US posts a $90bn deficit

THE US posted a $90.53bn (£58.7bn) budget deficit in August, Treasury Department data showed yesterday.

The August deficit was slightly below the $95bn expected by economists and smaller than the $103.56bn budget gap a year earlier.

The department said the budget gap so far for fiscal 2010 was $1.260 trillion, smaller than the $1.371 trillion posted for the first 11 months of fiscal 2009.

The government has now posted a budget deficit for a record 23 straight months, the Treasury Department said.

August outlays were $254.52bn, higher than the $249.08bn in August 2009.
Receipts totaled $164bn in August, higher than the prior year’s $145.53bn in August receipts.